El Salvador's President Nayib Bukele announced that 40% of the country's prison population is actively participating in rehabilitation programs aimed at repaying their debt to society. In return for their efforts, these inmates are eligible for reduced sentences. This initiative is part of Bukele's broader strategy to reform the nation's penal system and reintegrate former offenders into the community. The rehabilitation programs include vocational training, educational courses, and community service, providing inmates with skills and opportunities to facilitate their reintegration upon release. This approach aligns with Bukele's ongoing efforts to reduce crime and improve public safety in El Salvador. Since implementing these measures, the country has observed a significant decrease in crime rates, contributing to El Salvador's transformation into one of the safest nations in the Western Hemisphere. #news

In a significant move to bolster the middle class and stimulate economic growth, India's Finance Minister Nirmala Sitharaman unveiled the Union Budget 2025-26 on February 1, 2025. The budget introduces substantial personal income tax reforms, aiming to increase disposable income and boost domestic consumption. Key Tax Reforms: Increased Tax Exemption Threshold: The income tax exemption limit has been raised from ₹7 lakh to ₹12 lakh per annum. This change ensures that individuals earning up to ₹12 lakh will not be liable to pay any income tax, providing significant relief to middle-class taxpayers. Revised Tax Slabs: For incomes above ₹12 lakh, the tax slabs have been restructured to reduce the tax burden across various income brackets. The new tax rates are as follows: ₹12 lakh to ₹16 lakh: 15% ₹16 lakh to ₹20 lakh: 20% ₹20 lakh to ₹24 lakh: 25% Above ₹24 lakh: 30% Additionally, the standard deduction has been increased to ₹75,000 from the previous ₹50,000, further enhancing tax savings for salaried individuals. Economic Implications: These tax reforms are anticipated to leave more money in the hands of the middle class, thereby boosting household consumption, savings, and investment. Economists predict that the increased disposable income will spur demand across various sectors, including consumer goods, automobiles, and real estate. The government estimates that these measures will result in an annual revenue loss of approximately ₹1 trillion. To offset this, the budget outlines a modest increase in capital spending, focusing on infrastructure development and rural initiatives. Additional Budget Highlights: Agricultural Support: The budget introduces the Prime Minister Dhan-Dhaanya Krishi Yojana, aiming to develop 100 agricultural districts and benefit 1.7 crore farmers. Enhanced credit facilities through the Kisan Credit Card (KCC) will provide short-term loans of up to ₹5 lakh to farmers, fishermen, and dairy farmers. Research and Innovation: An allocation of ₹20,000 crore has been made to implement a private sector-driven Research, Development, and Innovation initiative. The PM Research Fellowship will offer 10,000 fellowships for technological research in IITs and IISc. Export Promotion: To incentivize electronics and electric vehicle manufacturing, exemptions have been provided for components like open cells for LED/LCD TVs and capital goods for lithium-ion batteries. The budget also proposes measures to promote Maintenance, Repair, and Overhaul (MRO) services and trade facilitation. The Union Budget 2025-26 reflects the government's commitment to strengthening the economy by empowering the middle class, supporting agriculture, and fostering innovation. These measures are expected to drive consumption, enhance productivity, and position India for sustained economic growth in the coming years. #india #budget #news

Union Budget 2025: Revised Tax Regime Brings Relief to Middle-Class Salaried Individuals The Union Budget 2025-26 has introduced significant changes to the tax regime, particularly benefiting salaried individuals. A comparative analysis of three different taxation scenarios—Standard Deduction, Standard Deduction + 80C, and Standard Deduction + 80C + Exemptions—shows the impact of the new tax regime compared to the old system. Key Highlights of the Revised Tax Structure: 1. Higher Tax Exemption Limits: The new tax regime increases tax relief by raising exemption limits and adjusting tax slabs. Salaried individuals with an annual income up to ₹7.75 lakh can now enjoy a zero-tax liability under specific exemptions. 2. Impact Across Different Income Brackets: For individuals earning ₹7.75 lakh annually, the total tax payable under the new regime is ₹15,000 after rebates, compared to ₹57,500 under the old tax regime. Middle-class earners in the ₹12.75 lakh and ₹15 lakh brackets will see a reduction in tax liability under the proposed changes. Higher-income earners (₹30 lakh+) will still experience a significant tax burden but with some adjustments for deductions. 3. Expanded Benefits Under Section 80C and Salary Exemptions: When incorporating deductions under Section 80C (such as EPF, PPF, and life insurance premiums), tax liability further reduces in most salary brackets. In Scenario 3, which includes salary-based exemptions (20%), individuals benefit from an even lower taxable income, leading to substantial tax savings. Economic Implications: These tax reforms aim to increase disposable income, thereby boosting consumer spending and savings. The government anticipates that these changes will encourage investment in financial instruments while also reducing the tax burden on the salaried middle class. The revised tax regime aligns with the government’s broader economic strategy to enhance affordability, encourage compliance, and stimulate economic growth through fiscal relief. #budget #news #india

During the recent Budget session of Parliament, Congress Parliamentary Party Chairperson Sonia Gandhi made remarks about President Droupadi Murmu's address, stating, "Poor lady, the President was getting very tired by the end. She could hardly speak." These comments have sparked significant controversy. Prime Minister Narendra Modi criticized the Congress party, highlighting what he described as the "arrogance" of its leadership. He emphasized that such remarks reflect a sense of entitlement and disregard for the nation's highest constitutional office. The incident has intensified political tensions, with the ruling party demanding an apology from Sonia Gandhi and the Congress party. The controversy underscores the deepening divide between the major political entities in India. Read more: https://indianexpress.com/article/political-pulse/sonia-gandhi-remarks-president-murmu-controversy-9810447 #SoniaGandhi #PresidentMurmu #PoliticalControversy #ParliamentDebate #IndianPolitics #CongressVsBJP #BudgetSession #DroupadiMurmu #SoniaRemarks #PoliticalNews